Banks Are Taking Note As Fintech Spikes Customers’

by Forbes Middle East Forbes Middle East - Business News

Ghassan Jumblat is only too aware of why it is critical for banks to transform digitally. Technology is very important in banking, emphasizes the IT head at Al Mawarid Bank.

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Review on Banks Are Taking Note As Fintech Spikes Customers’

I believe the banking industry is going through a phase of disruption just like how the hotel industry went through with Airbnb and how transport system had to deal with Uber. I think banks now, in general, are seen as slow and they go into too much detail, with lengthy contracts and small prints but with todays technology it can really shake the industry.
Banks need to change the model and go more into digitalization where they automate all processes.